A Sting Exclusive: “Sustainable development goals: what role for business?” Commissioner Mimica asks live from European Business Summit 2015

Written by Neven Mimica, Commissioner for International Cooperation & Development

Press conference by Neven Mimica, Members of the EC, on increasing the financial support for Nepal following the earthquake (EC audiovisual Services, 04/05/2015)

Press conference by Neven Mimica, Member of the EC, on increasing the financial support for Nepal following the earthquake (EC audiovisual Services, 04/05/2015)

In the next few months, the international community will take important decisions that will have a profound impact on how international cooperation and development will be pursued in the years and decades to come. Three major international events will determine the level of ambition and the degree of shared responsibility for our common future in the post-2015 period – the third international conference on financing for development in Addis Ababa in July, the United Nations summit on the new sustainable development goals in New York in September, and the United Nations climate change conference in Paris in December.

One of the key challenges in these inter-linked processes is to ensure that the globalised economy does not leave behind the most vulnerable, the people who are trapped in poverty and conflict. We must do everything possible to promote shared prosperity, eradicate all forms of inequality and ensure respect for human rights everywhere. New opportunities and threats will have to be detected and managed. Changing economic realities may result in significant changes in development cooperation patterns. The way that we formulate policy and do business together will also surely change, as increasingly sophisticated communication tools offer new opportunities for the involvement of all.

The European Commission has called for an ambitious and comprehensive agenda that helps the world to respond to the full range of challenges that we face, including structural economic transformation, sustainable management of natural resources, climate change, sustainable consumption and production, and peaceful societies and governance. While making sure that the benefits of global progress are shared more widely and more evenly than they are today and that countries and societies can increasingly rely on their own resources, we must also ensure that those most in need will continue to have access to assistance.

A strong global partnership, based on shared responsibility, mutual accountability and respective capacity, is essential. This will also enable us to overcome the weaknesses of the traditional donor-recipient relationship. Developing countries want to take responsibility themselves – rightly so. We should respect and encourage this. Successful development cooperation in the future must build on assisting partner countries to develop their own strengths, using their own efforts and their own resources, while focussing our continuous support to those most in need. At the same time, this will allow us to move away from project-centred cooperation to cooperation focused on building the necessary framework for developing countries to achieve sustainable and inclusive growth.

Partnership involves not just governments but also a wide range of other actors in international development policy, including the many civil society and non-governmental organisations that provide invaluable support to ensuring that needs are addressed and in keeping the progress of the international community in check. A true multi-stakeholder partnership is needed, with the active engagement of the private sector, civil society, parliaments and local authorities. Strengthening partnerships between these different parties with often different agendas is one of our greatest challenges, but it is one that must be overcome to make development cooperation more targeted, flexible and effective.

The role of the business community is of crucial importance to development cooperation in the coming years. The private sector is the key engine that powers the economic growth that is essential in developing countries. It provides some 90 % of jobs in those countries and makes essential investments in sustainable agriculture and sustainable energy. It also holds the key for innovations towards an inclusive green economy. The role of lead firms is crucial, not only in terms of where they invest or from where they source their materials and services, but also in terms of how these global industries operate and, in particular, according to which standards and rules. The importance of developing countries in these global value chains is increasing, and the future development of these relationships is crucial to fostering growth in these countries and providing their citizens with livelihoods that meet their expectations.

The way in which companies operate makes a huge difference. Are they capable of assessing risks and mitigating the possible impacts of their actions? How do they handle impacts on human rights, labour or the environment? And how do they implement business models that enhance development objectives? These are among the questions to ask if we are to speak about responsible trade and investment.

In the inter-connected, globalised economy, we have to acknowledge that development cooperation policies cannot be addressed in isolation. They need to be increasingly viewed in combination with the range of other policy areas that have an impact on developing countries – and that can also help provide the solutions. The EU Treaty requires the Union to take account of the objectives of development cooperation in the policies that are likely to affect developing countries. Trade is one of these areas. We need to monitor the impact of our policies in areas such as trade, environment, climate, energy, fisheries, migration, science and research. The key challenge is to create synergies between development objectives and the objectives of these other policies that have an external dimension, so as to achieve increased effectiveness.

At the international level, I will continue to keep these objectives at the forefront of the discussions with our international partners in both developing and developed countries. We rely on the engagement of the business community to help integrate developing countries into a new global framework.

This year’s European Business Summit is an opportunity to underline that commitment.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Erasmus+: an expected budget of €3 billion to be invested in young Europeans and to help create European Universities in 2019

Security Council renews mandates of UN force monitoring separation area between Israel and Syria; AU-UN hybrid mission in Darfur

A Europe that Protects: Commission calls for continued action to eradicate trafficking in human beings

How we overhauled healthcare amid Venezuela’s crisis

3 charts to help you understand the American shale boom

Halting spread of drug resistance from animals to humans: deal with Council

Brexit and migration dominates the debate on October’s EU summit

Economic sentiment and business climate stagnate in miserable euro area

In a time of rising xenophobia, more important than ever to ratify Genocide Convention

IMF cuts global growth outlook, but predicts pick up later in 2019

The EU Commission vies to screen Chinese investment in Europe

How will the NATO-EU competition evolve in the post Brexit era?

Ukraine turns again to the EU for more money

Australia needs to intensify efforts to meet its 2030 emissions goal

Humanitarian visas would reduce refugees’ death toll

MWC 2016 LIVE: T-Mobile US reveals 5G trial plans

Banks suffocate the real economy by denying loans

Guterres in Davos: ‘Dysfunctional’ response to common problems, shows need for effective multilateralism

Polluted lungs: health in the center of environment discussion

EU Parliament approves CETA: the EU-Canada free trade deal sees the light in Trump’s gloomy era

‘Continue working together’ UN chief urges DR Congo, as country heads to polls

Medical students as the critical link to address climate change

It’s not summer holidays what lead to the bad August of the German economy

A ‘charismatic leader’ dedicated to making the world a better place for all: officials bid farewell to former UN chief Kofi Annan

Combatting terrorism: EP special committee calls for closer EU cooperation

European Youth Capital 2019 announced: Novi Sad, Serbia

Three ways to improve your corporate culture in the #MeToo era

Disintegrating Tories will void May’s pledge for Brexit deal in seven weeks

UN chief welcomes Taliban’s temporary truce announcement, encourages all parties to embrace ‘Afghan-owned peace’

Engaging women and girls in science ‘vital’ for Sustainable Development Goals

2,300 migrant children in Central American ‘caravan’ need protection, UNICEF says

Why income inequality is bad for the climate

Businesses, governments and consumers to implement a more climate-friendly approach to #BeatPlasticPollution on World Environment Day 2018

Here’s what keeps CEOs awake at night (and why it might be bad news for your next job)

EU Commission and ECB rebuff Germany on the Banking Union

5 ways students can graduate fully qualified for the Fourth Industrial Revolution

Finland has giant supermarkets that only stock second-hand goods

German and French bankers looted the Irish and Spanish unemployed

Brexit update: Will Theresa May’s last-minute desperate efforts procrastinate Brexit?

Development aid drops in 2018, especially to neediest countries

It’s time for financial services to embrace the Fourth Industrial Revolution. Here’s why

A refugee from Syria cries out: “I’m not just a number!”

Eurozone has practically entered a deflation trap

MWC 2016 LIVE: 5G to embrace unlicensed bands and Wi-Fi

Migrant caravan: UN agency helping ‘exhausted’ people home

How oysters are cleaning New York’s polluted harbor

Half of Eurozone in deflation expecting salvation from monetary measures

UNESCO experts ready to assist reconstruction of iconic Notre Dame, following devastating blaze

The European Parliament launches a website on European election results

Greece to stay in the euro area but the cost to its people remains elusive

Service and Sacrifice: Ugandan ‘Blue Helmets’ support UN efforts to bring peace to Somalia

Scotland in United Kingdom: It’s either the end or the beginning of the end

Will Eurozone be able to repay its debts? Is a bubble forming there?

Lack of investment and ambition means Youth Guarantee not reaching potential

The world to teach Germans to…un-German

Islamophobia is driving more US Muslims to become politically engaged, suggests report

The EU sides with China against the US; but has Germany capitulated to America?

EU prepares itself to fight back against hostile propaganda

Cutting money transfer fees could unlock $15bn for developing countries. Here’s how

Does the world have strong enough institutions to handle risks like Trump and Brexit?

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s